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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Sector Investor who wrote (19104)	10/27/1997 12:29:00 AM
From: Gary Korn	Read Replies (2) \| Respond to of 61433

If this keeps up this could turn REAL ugly. ASND has held so far, but I expect it too drop another point or so tomorrow. Perhaps the Nikkei can offer some support. I'm not in the mood for ugly. Now, I see the Nikkei is down 1.5%. Perhaps the strong dollar and strong U.S. bonds can help tomorrow. Stories from bloomberg: Hong Kong stocks extended their slide after last week's rout amid concern surging interest rates will erode corporate earnings. Last week was their worst since 1989. Banks and developers such as Great Eagle Holdings Ltd. led today's drop. While the overnight borrowing rate fell 4.25 percentage points to 15.75 percent, that's still triple last Monday's rate of 4.9 percent. The benchmark 33-stock Hang Seng Index slumped as much as 512.60, or 4.6 percent, to 10,631.74. U.S. bonds rose in Asia amid expectations turmoil in Asian financial markets will boost the allure of Treasury securities as a safe haven for investors. Japan's Nikkei 225 benchmark stock index dropped more than 1.5 percent in early trading after New York stocks tumbled Friday on concern slowing Asian economies will hurt corporate earnings. The benchmark 30-year bond rose 17/32, or $5.31 per $1,000 bond, pushing its yield down 4 basis points from New York to 6.23 percent. The two-year note's yield fell 4 basis points to 5.69 percent. The dollar rose against the yen amid concern instability in Hong Kong and other Asian financial markets may further weaken Japan's own anemic economic recovery, traders said. The recent tumble in stock markets in Hong Kong and elsewhere in Asia means not only slower economic growth in the region, but also lower profits for Japanese companies that have strong ties with those economies. Japanese stocks started the week sharply lower. The dollar was quoted at 122.24 yen, up from 121.93 yen in late New York trading Friday. The mark was quoted at 69.01 yen, up from 68.77 yen in New York. The dollar was quoted at 1.7716 marks, down from 1.7773 in New York.